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On May 3, the SEC adopted changes to Exchange Act rules dictated by the Jumpstart Our Business Startups Act (JOBS Act) and the Fixing America’s Surface Transportation Act (FAST Act). The amendments conform the rules to statutory provisions that increased the asset and holder-of-record thresholds that obligate an issuer to register a class of equity securities under the Exchange Act and file reports with the SEC, and then, following registration, permit it to terminate the registration and exit the SEC reporting system.